Family Takaful Product Development Committee

 
4.8 
A Director must attend at least 75% of the Board meetings held in each 
financial year, and must not appoint another person to attend or participate in 
a Board meeting on his/her behalf. 
 
4.9 
The Company must not make an application to BNM to appoint a Director 
unless the Board is wholly satisfied that the candidate meets the minimum 
requirements set out in Paragraphs 4.2 to 4.5, understands the expectations 
of his/her role and is able to meaningfully contribute to the Board. 
4.10 
The Company must not publicly announce the proposed appointment of a 
Director unless the written approval of BNM has been obtained. A Director 
whose tenure has expired and is being proposed for reappointment must 

---

SYARIKAT TAKAFUL MALAYSIA AM BERHAD 
[201701032316 (1246486-D)] 
(Incorporated in Malaysia) 
 
TERMS OF REFERENCE OF BOARD OF DIRECTORS (
“TOR”)/BOARD CHARTER-
CONT’D 
4 
cease to hold office until his/her reappointment is approved by BNM. 
4.11 
The office of a Director shall become vacant if he/she:-
(a) 
becomes of unsound mind; 
(b) 
becomes bankrupt; 
(c) 
is absent from more than 50% of the total Board meetings of the 
Company held during the financial year; 
(d) 
is convicted by a court of law, whether within Malaysia or elsewhere; 
or 
For the purpose of Paragraph 4.11(c) above, if a Director is appointed after 
the commencement of the financial year, only the Board meetings held after 
his appointment will be taken into account.
4.12 
The Company must not remove an Independent Director, or accept the 
resignation of an Independent Director from his/her position unless the written 
approval of BNM has been obtained. 
4.13 
Each Director shall be expected to:- 
i. 
provide independent opinions to the fact-finding, analysis and decision 
making process of the Board, based on their experience and knowledge; 
ii. consider viewpoints from other Board members; make decisions and 
recommendations for the best interest of the Company collectively; 
iii. keep abreast of the latest corporate governance guidelines in relation to 
the Board as a whole; and 
iv. continuously seek out best practices in terms of the processes utilised by 
the Board, following which these should be discussed with the rest of the 
Board for possible adoption. 
4.14 
The Board shall make necessary disclosures concerning the activities and 
operations of the Company pursuant to the requirements of relevant 
regulatory authorities.
4.15 
Under the Directors’ and Officer’ Liability Insurance, the Group will provide 
Directors with insurance coverage whilst acting in their capacity as members 
of the Board. The Directors will be required to pay a portion of the 
contribution, the sum of which would be recommended by the Management.